Benefits Of Using A Strata Management Service
When individuals are co-owners of residential or commercial properties, they need to manage their property objectively, keeping in mind the best interest of all the owners. Empire Estate Agents can help manage these properties and take care of the administrative responsibilities.
Strata management services offer multiple advantages. They are effective managers of properties. They connect with services that are required to maintain the property such as gardeners, electricians, plumbers, and other service providers. The strata manager makes sure that all the work done was completed properly. They are also neutral third-party whenever a dispute arises among different property owners. They are also in charge of collecting bills.
Strata managers must undergo special training to learn all about the laws that govern the rights of property owners. Managing strata effectively and fairly can be quite a complicated process. The manager must be fair to all property owners so each person is treated equally. Most property owners do not realize the full extent of the strata manager's responsibilities. The strata managers are so skilled in handling issues that property owners don't fully appreciate the work that the managers put into the strata.
Here are some of their responsibilities:
1. Take care of common areas such as gardens, parking spaces, and others, and arrange for regular maintenance services for these areas.
2. Manage funds collected regularly from all co-owners of the property to finance the management and maintenance of the property.
3. Strata managers handle all regular cleaning and maintenance of the property's common areas so the owners do not need to concern themselves with this part of their property.
4. Strata managers take meticulous care in the recordkeeping of this property. They safeguard the records and make them available and accessible when needed.
5. Strata managers handle all of the accounts concerning the property and its management.
6. They make sure that the property is compliant with all current building and fire safety codes and guidelines. They make sure that all rules and regulations relating to health are followed.
7. The strata manager must stay apprised of laws that govern property management and ownership because laws can change, and changes must be evaluated and applied to the property remains compliant.
8. When there are adequate funds, the strata manager will arrange for remedial and preventative maintenance on areas of the property that require it.
9. One of the biggest advantages of using a strata management service is that the manager prepares and presents the annual property financial report. They organize property owner meetings so any disputes and conflicts can be settled and resolved.
You have the option to manage the properties yourself, and you probably can save money by not paying someone else to do it. Also, you can have more control over being the manager. However, you will be burdened with the responsibilities of overseeing all work done on the property, collecting rent, and talking with owners to resolve disputes or handle their other complaints.
However, if you hire a strata manager, you can hand off these responsibilities to him. The manager has a lot of experience in rent collection, settling disputes, dealing with government compliance, paying bills, and more. Even though you'll have to pay for the service, removing these property management responsibilities from your plate will help you sleep better at night because all of these mundane but important tasks are being handled by a professional.